Diamond Credit Union Mortgage Rates, Fees & Info

Pottstown, PA

LEI: 25490053H6JWQDX4RM47

Tax ID: 23-1320654

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Diamond Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Diamond Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Reading, Philadelphia, Pottsville, Lancaster, and Allentown among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Diamond Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Diamond Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 3.39% 11/17/24
    30 Year Conventional Purchase 6.72% 11/17/24
    30 Year Conventional Refi 6.45% 11/17/24
    30 Year Cash-out Refi 6.76% 11/17/24
    15 Year Conventional Purchase 6.15% 11/17/24
    15 Year Conventional Refi 6.22% 11/17/24
    15 Year Cash-out Refi 6.22% 11/17/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Diamond Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Diamond Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    422

    Origination Dollar Volume (All Markets)

    $38,050,000

    Awards

    Diamond Credit Union 30 Year Conventional Loans silver Diamond Credit Union 30 Year Conventional Loans bronze
    Show all (2) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    READING, PA (FHA|USDA|VA) 263 $23,805,000 $90,513 $1,038 4.96%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 122 $10,670,000 $87,459 $815 4.86%
    Pottsville, PA (FHA|USDA|VA) 15 $1,305,000 $87,000 $1,013 4.79%
    LANCASTER, PA (FHA|USDA|VA) 7 $875,000 $125,000 $1,728 5.09%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 6 $460,000 $76,667 $735 4.71%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $295,000 $295,000 $605 4.52%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $165,000 $165,000 $265 4.52%
    YORK-HANOVER, PA (FHA|USDA|VA) 2 $140,000 $70,000 $0 5.45%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $115,000 $115,000 $2,870 3.50%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $105,000 $105,000 $600 4.99%
    SALISBURY, MD-DE (FHA|USDA|VA) 2 $70,000 $35,000 $415 5.74%
    LEBANON, PA (FHA|USDA|VA) 1 $45,000 $45,000 $265 4.74%
    Diamond Credit Union's top markets include Reading, Philadelphia, Pottsville, Lancaster, and Allentown among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Diamond Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    UTILITIES EMPLOYEES CREDIT UNION
    Similarity Rank: 42
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    Prudential Bank
    Similarity Rank: 162
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 180
    Diamond Credit Union
    Similarity Rank: 228
    Columbia Bank
    Similarity Rank: 440
    VISIONS
    Similarity Rank: 525
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 528
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 678
    Hamilton National Mortgage Company
    Similarity Rank: 774

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 422 $38,050,000 $90,166 $978 4.93%

    For 2019, Diamond Credit Union's most frequently originated type of loan was Conventional, with 422 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 151 $17,025,000 $112,748 $893 4.55%
    Other 99 $4,365,000 $44,091 $398 5.44%
    Home Improvement 79 $3,585,000 $45,380 $354 5.31%
    Home Purchase 58 $8,520,000 $146,897 $2,824 4.53%
    Cash Out Refi 35 $4,555,000 $130,143 $3,213 4.87%

    For 2019, Diamond Credit Union's most frequently cited loan purpose was Refi, with 151 originations. The 2nd most popular reason was Other, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 116 $4,740,000 $40,862 $419 5.23%
    15 Year 98 $9,620,000 $98,163 $996 4.72%
    10 Year 94 $8,460,000 $90,000 $363 4.93%
    20 Year 64 $7,060,000 $110,313 $882 5.29%
    30 Year 43 $7,945,000 $184,767 $3,481 4.13%
    5 Year 7 $225,000 $32,143 $256 4.15%

    For 2019, Diamond Credit Union's most frequently cited loan duration was Other, with 116 originations. The 2nd most popular length was 15 Year, with 98 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 372 $31,930,000 $85,833
    $2k-3k 1 $145,000 $145,000
    $3k-4k 1 $215,000 $215,000

    Diamond Credit Union's average total fees were $3,481, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 372 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 175 $13,785,000 $78,771
    5-6% 106 $8,120,000 $76,604
    3-4% 89 $12,765,000 $143,427
    6-7% 43 $2,815,000 $65,465
    7-8% 5 $265,000 $53,000
    Over 8% 3 $85,000 $28,333
    2.5-3% 1 $215,000 $215,000

    During 2019, Diamond Credit Union's average interest rate for loans was 4.13%, while their most frequently originated rate bucket for loans was 4-5%, with 175 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 276 $13,190,000 $47,790 $477 5.17%
    $100k-200k 103 $14,085,000 $136,748 $1,605 4.61%
    $200k-400k 42 $10,320,000 $245,714 $2,962 4.15%
    $400k-600k 1 $455,000 $455,000 $4,689 4.00%

    2019 saw Diamond Credit Union place emphasis on $100,000 or less loans with 276 originations, totaling $13,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 103 $9,045,000 $87,816 $904 5.00%
    $75k-100k 93 $7,865,000 $84,570 $907 4.89%
    $50k-75k 90 $7,190,000 $79,889 $1,181 4.71%
    $50k or less 49 $3,325,000 $67,857 $710 4.80%
    $150k-250k 46 $5,100,000 $110,870 $1,022 4.85%
    $250k+ 6 $1,330,000 $221,667 $2,601 4.45%

    Diamond Credit Union lent most frequently to those with incomes in the $100k-150k range, with 103 originations. The second most popular income band? $75k-100k, with 93 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 106 $9,360,000 $88,302 $1,061 4.64%
    30-36% 89 $7,075,000 $79,494 $927 4.82%
    <20% 31 $3,115,000 $100,484 $1,116 4.50%
    42% 26 $1,800,000 $69,231 $725 5.46%
    36% 20 $1,700,000 $85,000 $862 4.90%
    39% 18 $1,310,000 $72,778 $910 5.25%
    37% 18 $1,560,000 $86,667 $1,291 5.21%
    40% 18 $2,130,000 $118,333 $1,232 4.84%
    41% 14 $1,200,000 $85,714 $530 4.70%
    38% 14 $1,070,000 $76,429 $583 5.08%
    43% 14 $1,240,000 $88,571 $719 5.00%
    44% 6 $690,000 $115,000 $1,864 4.89%
    50-60% 4 $290,000 $72,500 $1,208 5.83%
    46% 4 $870,000 $217,500 $1,393 4.97%
    45% 3 $275,000 $91,667 $1,682 5.01%
    49% 2 $140,000 $70,000 $188 4.34%
    48% 1 $105,000 $105,000 $255 4.74%
    47% 1 $95,000 $95,000 $0 5.25%
    >60% 1 $135,000 $135,000 $185 4.08%

    Diamond Credit Union lent most frequently to those with DTI ratios of 20-30%, with 106 originations. The next most common DTI ratio? 30-36%, with 89 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 349 $30,135,000 $86,347 $989 4.85%
    Not applicable 32 $4,010,000 $125,313 $135 5.73%
    Not provided 27 $2,205,000 $81,667 $560 5.16%
    Black 9 $1,045,000 $116,111 $1,922 4.43%
    American Indian 3 $405,000 $135,000 $1,415 4.33%
    Asian 1 $195,000 $195,000 $208 4.38%
    Other Pacific Islander 1 $55,000 $55,000 $555 5.74%

    Approval Rates

    Total approvals of all applications
    79.61%

    Diamond Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    84.36%

    Diamond Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 422 $38,050,000 $90,166

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $1,405,000 $200,714
    Single Family (1-4 Units):Manufactured 1 $125,000 $125,000
    Single Family (1-4 Units):Site-Built 414 $36,520,000 $88,213

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 95 $6,185,000 $65,105 $490 5.15%
    40-60% 46 $5,040,000 $109,565 $883 4.57%
    60-80% 97 $14,935,000 $153,969 $1,972 4.60%
    80-100% 45 $7,205,000 $160,111 $2,960 4.51%
    Under 20% 138 $4,580,000 $33,188 $354 5.24%